Connect with us

Business

Family offices fear dollar depreciation, lower investment returns in wake of tariffs

Published

on

Family offices fear dollar depreciation, lower investment returns in wake of tariffs


Compassionate Eye Foundation/david Oxberry | Digitalvision | Getty Images

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.

Family offices have been investing with more caution since President Donald Trump’s tariff announcement in early April, according to a recent survey released by RBC Wealth Management and research firm Campden Wealth.

In a poll of 141 investment firms of ultra-wealthy families in North America, the majority (52%) of respondents said cash and other liquid assets would offer the best returns over the next 12 months. More than 30% said artificial intelligence would offer the best returns. Respondents could pick multiple answers.

In last year’s survey, growth equities and defense industries were the most popular choices, each tallying just under a third of respondents.

Family offices also lowered their expectations for 2025 returns, reporting an average expected portfolio return of 5% for the year, down from 11% in 2024. Fifteen percent of respondents said they expected negative returns, while nearly none did the year prior. The most popular investment priority for 2025 was improving liquidity, which was selected by nearly half of family offices. Last year’s top choice, at 34%, was portfolio diversification.

The survey was conducted from April through August. RBC Wealth Management’s Bill Ringham said that tariff-induced market turmoil and geopolitical tensions played a “pivotal role” in the pessimistic poll results.

While U.S. markets have rebounded to record highs since the spring, family offices still have other reasons to be bearish. A whopping 52% of survey respondents cited depreciation of the U.S. dollar as a likely market risk. The dollar has dropped by nearly 9% since the beginning of the year, and banks including UBS expect depreciation to continue.

The slowdown in exits for private equity and venture capital — a common complaint from family offices, per the report — continues to drag on. Nearly a quarter of respondents said private equity funds have not met their expected investment returns for 2025, and 15% said the same of private equity direct investments. Venture capital scored the lowest net sentiment, with 33% of respondents reporting unsatisfactory returns.

That said, family offices are flocking to cash not only to mitigate risk, but also to make opportunistic bets in the future, Ringham said.

“They’re taking a much longer vision of their legacy and their family,” said Ringham, who directs private wealth strategies for RBC’s U.S. arm. “By doing this, they’re probably creating the capital to take advantage of opportunities as they see them coming through in the market.”

Get Inside Wealth directly to your inbox

This cautious optimism can be seen in the respondents’ intended asset allocation changes, he said. Only a net 3% of family offices plan to increase their allocation to cash and liquid assets, compared to 20% for direct private equity investments, and 13% for private equity funds.

Investing in private markets is a necessity to create enough wealth to beat inflation and accommodate a growing family, Ringham said.

“When family offices are putting together portfolios, they’re obviously looking at time horizons that can last much longer than individuals that don’t have this type of legacy wealth. I mean, we’re looking at 100 years to 100 years plus,” he said. “If you’re taking the long view, even though you might realize that private equity hasn’t been performing that well over the past couple years, it’s still a place where historical returns might have exceeded returns that you might find elsewhere.”

Don’t miss these insights from CNBC PRO



Source link

Business

Lenskart IPO Opening Date Announced: Check Price, GMP, & Key Dates

Published

on

Lenskart IPO Opening Date Announced: Check Price, GMP, & Key Dates


Last Updated:

Lenskart Solutions Limited will open its Rs 7,278 crore IPO on October 31, 2025, with expected listing on BSE and NSE on November 10.

Lenskart has announced the opening date for its IPO.

Lenskart IPO GMP: Eyewear company Lenskart Solutions Limited has announced October 31 as the opening date for its initial public offering (IPO). The three-day subscription window will end on November 04, 2025. The expected size of the issue is Rs 7,278 crore, as informed in the RHP filed on October 25.

Lenskart’s IPO anchor book will open for a day on October 30, according to the Red Herring Prospectus (RHP). The company is expected to finalise share allotment by November 6, and trading of Lenskart shares on the BSE and NSE will begin from November 10.

The company hasn’t yet revealed the price band for its upcoming IPO. It will be announced closer to the launch date.

The grey market premium (GMP) will also be available once the IPO price band is fixed.

Lenskart IPO Details

Earlier, Lenskart converted into a public limited company in June. Its name was changed from Lenskart Solutions Private Ltd to Lenskart Solutions Ltd during an extraordinary general meeting held on May 30.

Back in February, the company was reportedly in discussions to appoint five investment banks — Kotak Mahindra Capital, Axis Capital, Citi, Morgan Stanley, and Avendus Capital — as advisors for the IPO.

Existing investors like TR Capital, Chiratae, Softbank and Kedaara Capital are expected to sell their stake as part of the deal.

Alongside founders and promoters — Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi — investors including SoftBank’s SVF II Lightbulb (Cayman), Schroders Capital, PI Opportunities Fund, MacRitchie Investments, Kedaara Capital Fund, and Alpha Wave will also participate as selling shareholders in the offer-for-sale. Notably, Schroders Capital Private Equity Asia Mauritius is set to exit entirely, offloading its 1.9 crore shares, representing a 1.13% stake, through the IPO.

Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

Varun Yadav

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

Follow News18 on Google. Join the fun, play QIK games on News18. Stay updated with all the latest business news, including market trendsstock updatestax, IPO, banking finance, real estate, savings and investments. To Get in-depth analysis, expert opinions, and real-time updates. Also Download the News18 App to stay updated.
News business ipo Lenskart IPO Opening Date Announced: Check Price, GMP, & Key Dates
Disclaimer: Comments reflect users’ views, not News18’s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.

Read More



Source link

Continue Reading

Business

US-China trade talks: ‘Moving forward’ towards final agreement; Trump expresses hope for ‘comprehensive deal’ with Xi – The Times of India

Published

on

US-China trade talks: ‘Moving forward’ towards final agreement; Trump expresses hope for ‘comprehensive deal’ with Xi – The Times of India


The longstanding trade tensions between the United States and China might finally come to an end as the two nations are making progress on finalising the details of a trade agreement, a US official said on Sunday.“I think we’re moving forward to the final details of the type of agreement that the leaders can review and decide if they want to include together,” US trade representative Jamieson Greer said, as cited by AFP.

Trump’s FULL Air Force 1 Presser: ‘Love China’s Help’: US Pres. On Putin, Canada, ‘Nuclear’ N. Korea

Earlier, US President Donald Trump US President Donald Trump had also expressed believe that the two nations will reach a “comprehensive deal” with China’s Xi Jinping, putting an end the bitter trade war between the world’s two largest economies.When asked by reporters aboard Air Force One what he hoped to take away from upcoming talks in South Korea, Trump replied, “I think we have a really good chance of making a really comprehensive deal.”The announcement comes after the latest round of trade talks in Malaysia, which began on Saturday, as both nations sought to prevent further escalation of a costly tariff dispute.“The Chinese and US delegations convened on Saturday morning for talks on economic and trade issues,” the official Xinhua news agency reported, as cited by AFP.Chinese Vice Premier He Lifeng is leading a delegation in Malaysia from October 24 to 27 to hold discussions with the United States, the Chinese commerce ministry said. The talks are focused on “important issues in the economic and trade relationship between China and the United States,” the ministry added.Tensions between the two countries have intensified in recent weeks. US President Donald Trump threatened 155% additional tariffs on Chinese imports. This came after Beijing’s introduction of sweeping controls on its rare earths industry earlier this month. Both countries have also imposed fees on each other’s shipments, following a US “Section 301” investigation that concluded China’s dominance in the sector was unreasonable.Trump had warned that he might cancel his anticipated meeting with Chinese President Xi Jinping in South Korea, scheduled on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit beginning October 31. Despite the mounting tensions, the US president emphasised his goal of securing a “good” deal with China and bringing the trade war to an end.The timing of the Malaysian talks coincided with President Trump’s visit to Kuala Lumpur for the Association of Southeast Asian Nations (ASEAN) meeting from October 26 to 28, further highlighting the strategic importance of these discussions.





Source link

Continue Reading

Business

The fall and future of Manchester Pride

Published

on

The fall and future of Manchester Pride


Jasmine Sandhar,BBC Newsbeat and

Pete Allison,BBC Newsbeat

Getty Images Five people pictured behind a barrier at Manchester Pride. They are waving pride flags smiling and waving. The barrier is decorated with various rainbow flags and disco balls.Getty Images

Manchester Pride has been one of the UK’s biggest LGBTQ+ events

When Saki Yew stepped off stage at this year’s Manchester Pride, she felt “joyous”.

The former Drag Race UK queen had spent weeks rehearsing and creating costumes for the performance at the city’s Sackville Gardens in August.

It was effort she was happy to make for one of the UK’s biggest LGBTQ+ events, and the reaction from the crowd made it worth it.

But when she asked Pride’s organisers for her payment, she says there was silence.

The charity behind Manchester Pride went bust this week, leaving dozens of performers, vendors and backstage workers unpaid.

In a statement confirming it had gone into liquidation, bosses blamed a “combination of rising costs, declining ticket sales and an ambitious refresh of the format aimed to challenge these issues”.

But some believe repeated warning signs about the sustainability of the event weren’t heeded.

Warning signs

Manchester Pride started in 1985 as a two-week fundraising event.

Since then, it’s grown in size and influence, becoming the first UK organisation to add black and brown stripes to the rainbow flag to represent LGBTQ+ people of colour.

By 2025 Manchester was one of the biggest Pride events in the UK, alongside London and Brighton’s annual celebrations.

With its increasing size came bigger names, including Ariana Grande, Sophie Ellis-Bexter, Anastacia and Zara Larsson.

This year’s star-studded line-up featured Nelly Furtado, Olly Alexander, and former Little Mix star Leigh-Anne.

But behind the scenes there were signs all was not well, according to people who worked on this year’s event.

Abbie Ashall Abbie is close to the camera, smiling. Her dark brown hair is tied back and she is wearing large black headphones. Behind her down the street is the parade. You can see dancers wearing black with orange, pink and yellow streamers. Abbie Ashall

Abbie, who project managed the 2025 parade, is among those still owed money

Event manager Abbie Ashall had worked for Manchester Pride since 2023, and was a project manager for this year’s parade.

She tells BBC Newsbeat many charities were hit hard by the Covid-19 pandemic, and there was evidence Manchester Pride had also been affected.

Abbie says she was given strict budgets to stick to, and noticed that former colleagues who left were not replaced.

Yet, at the same time, Abbie says, Pride’s organisers launched Mardi Gras this year – a two-day, ticketed event at Manchester’s high-capacity Mayfield Depot.

Attendees reported that crowds were small, and Abbie says the event was not considered successful.

Contractor Chris O’Connor worked at Manchester Pride for five years as a runner, a role he describes as a mixture of organisation and “troubleshooter-slash-firefighter”.

He says working in the run-up to previous Pride weekends had been “a joy”, but that 2025 had presented “red flags” and “major issues” for him to resolve from the start.

He believes Manchester Pride, which reported a loss of about £468,000 in 2023, should have had better control of the finances.

‘I rely on that money to live’

Both Chris and Abbie say they are still owed money for their work on 2025’s event.

In Chris’s case, he says not being paid prevented him visiting his son, who has just started university in Ireland.

Saki Yew tells Newsbeat she has “a life outside of drag” and “bills and groceries to pay for”.

Like Chris, Saki believes Pride’s organisers could have been more transparent about their financial troubles while people waited for payment.

“It’s highly disrespectful,” says Saki.

“You’ve kept us in the dark, you’ve just disrespected every single person on what they do and what they provide for you.”

Getty Images Drag queen Saki Yew is on-stage at Manchester Pride. She is wearing a lace top with long sleeves and a small pink waistcoat over the top of it, covered in brightly-coloured badges. She is open-mouthed, looking out from the stage. She is wearing a black headband with pink letters on it and has long, blonde hair.
Getty Images

Saki Yew, who was on RuPaul’s Drag Race UK in 2024, performed at pride this year

Some suspect the lack of communication from Manchester Pride’s organisers over payment is linked to its failed bid to host 2028’s Europride.

The international event usually attracts huge crowds, and Abbie believes Pride bosses were banking on “the funding that would have come with that from Manchester City Council and beyond”.

When it was announced that Limerick and Clare, in Ireland, had won the bid earlier this month, hopes for potential Europride investment disappeared.

“I think they took a massive swing and it was a miss,” says Abbie.

The exact details of the circumstances leading up to Manchester Pride going into liquidation aren’t yet known.

However, the Charity Commission, which works to ensure organisations in England and Wales comply with the law, is “assessing concerns” after Pride’s bosses submitted a “serious incident report relating to its finances”.

There are also questions about future events in Manchester, and what shape they will take.

Getty Images Manchester Pride parade. People dressed in brightly-coloured suits holding pride flags. Some are holding large drums and colourful kilts. They are posing with their arms held out and smiling in the street. Getty Images

Manchester Pride was a four-day event in August 2025

On the streets of the city, it’s not hard to find people who attended this year’s Pride and want to see the celebration return.

Kieran, 24, from Oldham, believes “it’s something that everyone in Manchester looks forward to”.

“It brings all types of culture and people together,” he says.

Lexi agrees Pride is “a big part of not only the culture of this city, but so important for the community itself”.

“If we don’t have Pride, what else do we have?”

Lexi says attending Pride events after she’d just come out was “a really important time” and “it would be horrible for people to lose that opportunity”.

‘A new chapter’?

Manchester City Council has said it will “support a new chapter for Manchester Pride weekend, which will take place next August”.

Lexi is optimistic.

“I would be happy to put my money into something, especially if it’s going to go back to the community,” she says.

There had been complaints about staging events outside Manchester’s gay village and focusing on spectacle over supporting LGBTQ+ causes.

“Maybe there’s a way around it in creating a cheaper, more sustainable Pride,” Lexi hopes.

But for the workers that may depend on, trust has been lost as well as money.

“This charity is there to platform and support queer artists and practitioners,” says Abbie.

“For all of those people to be at a loose end when this is the charity that is meant to raise them up more than anybody – that’s where it’s deeply frustrating and really upsetting.”

The BBC approached Manchester Pride for comment but it did not respond.

In a statement shared on social media, Manchester Pride’s Board of Trustees expressed “regret” for delays in communication, but said it was “keen not to jeopardise financial opportunities while our discussions were ongoing”.

It said it had hoped to find a way to continue to support those who had contributed, and was “sincerely sorry for those who will now lose out financially from the current situation”.

“We have put our hearts and souls into the celebration and community activities over two decades,” it added.

“We hope and believe that this leaves a positive and lasting legacy for the Pride movement in Greater Manchester.”

Additional reporting by Georgia Levy-Collins.

A footer logo for BBC Newsbeat. It has the BBC logo and the word Newsbeat in white over a colorful background of violet, purple and orange shapes. At the bottom a black square reading "Listen on Sounds" is visible.

Listen to Newsbeat live at 12:45 and 17:45 weekdays – or listen back here.





Source link

Continue Reading

Trending